NEW YORK — Stocks are drifting on Wall Street Thursday after President Donald Trump’s latest tariffs took effect on dozens of countries.

The S&P 500 added 0.2% after climbing earlier to within a whisper of its record, which was set late last month. The Dow Jones Industrial Average was down 147 points, or 0.3%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 0.7% higher.

Worries are still high that Trump’s tariffs are damaging the economy, particularly after last week’s worse-than-expected report on the job market. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping offset the concerns, at least for now. Lower…